Meat and bonemeal (MBM) were lower in Australia, New Zealand, China, and Indonesia this week. Market sources attributed this to excess offering levels in Australia from lofty beef slaughter numbers. Australia MBM 50 pro delivered was reported at a low of $650/mt. New Zealand’s 45 pro meat and bonemeal was reported at NZ$620-640 ($384-397) per tonne, while 50 pro was within a range of NZ$700-720 ($434-446) per tonne (mt).
The MLA reported cattle slaughter at 136,503 for last week, up 5.25% from the week prior and up 25.59% from 2023 levels. Year-to-date slaughter for Australia was at 1,376,809 head, 14.61%, or 175,474 head, higher than 2023 levels for the respective time. From the year-to-date three-year average, Australia slaughter is up 26.93%.
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